Report Shows Shenzhen’s GDP to Rank 11th by 2025
A research report completed by the global management consultancy Mckinsey and Company, titled the City 600 and released during the International Conference on Urban Development and Innovation that ended last Friday indicates that Shenzhen’s GDP will rank 11th in the world by the year 2025.
The report listed what the top 25 cities in the world will be by 2025 in six different categories, including: GDP Growth Rate, per capita GDP, Child population, population, household number and number of households with an annual income of more than $20,000 US dollars. Shenzhen took sixth place in terms of GDP Growth Rate and the 21st place in terms of the number of households with an annual income of more that $20,000 US dollars.
A Spokesperson for Mckinsey said that the per capita GDP for small cities such as Macau and Doha are often very high, and the child population is usually decided by a government’s policy on population control. He sees Shenzhen along with other Chinese cities having the potential to become a global metropolis by 2025.
Urbanization is a major factor in a global economic growth and the development of Shenzhen and other Chinese cities will have a large impact on the global economy. They hope that Shenzhen and other cities can achieve this since its a major challenge for China to raise its efficiency and per capita GDP.
By 2025, there will be more than 100 Chinese cities included on the top 600 cities in the world.